Industry Bellwethers Taking Hit As Smaller Companies Step Up

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Partners don't seem to be too worried about the dip in stock prices, as long as the products continue to deliver.

"I don't see any of them going out of business," said Fred Moore, managing partner at Moore Computing in St. Louis. "If their products quit performing, that's what would motivate me to change."

However, Moore did say that he thinks the bigger companies have overextended themselves in the stock market, which could be why the prices are falling.

"I think the big companies, their hands have been overplayed a little bit," Moore said. Moore Computing is, among others, an HP, Microsoft and Cisco partner, all of which fell in stock price over the past three months.

According to the numbers, most of the tech companies surveyed seemed to take the biggest hit in August. All of the companies posted gains in July except Microsoft, which fell $2.32 in share price over the course of the month.

Despite larger companies taking a hit, Martinuzzi said that the tech industry usually proves resilient to market trends, especially recently, as more customers are turning to the cloud and SaaS to replace employees.

"Tech has been resilient because it is an efficiency driver. If you buy software, you don’t have to hire people," Martinuzzi said.